If you’re thinking about buying foreclosed homes because there is a lot of hype flying around right now about how much money there is to be made, beware. There are some good deals out there but it takes a tremendous amount of time and a little good luck to actually get one. It really is not the way to get rich quick, you’d almost be better off looking for good deals on regular home sales and avoiding the foreclosure market until things settle down a little. There is a lot of paperwork and a lot of head ache involved in finding and purchasing a foreclosed home and often by the time things are done it really isn’t much of a deal.